Zacks Investment Research Upgrades Office Properties Income Trust (NASDAQ:OPI) to Hold

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Office Properties Income Trust (NASDAQ:OPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Office Properties Income Trust is a real estate investment trust. It owns buildings primarily leased to single tenants as well as government entities. Office Properties Income Trust, formerly known as Government Properties Income Trust, is based in Newton, United States. “

Other research analysts also recently issued research reports about the company. Morgan Stanley started coverage on in a report on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) price objective on the stock. Jefferies Financial Group set a €8.10 ($9.42) price target on Commerzbank and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 670 ($8.75) price objective on shares of in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.25.

Shares of OPI traded down $0.34 during trading hours on Wednesday, hitting $27.12. The company had a trading volume of 3,771 shares, compared to its average volume of 245,124. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 3.42, a P/E/G ratio of 1.03 and a beta of 1.65. The company’s 50 day moving average is $26.11. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.69. Office Properties Income Trust has a 52-week low of $23.36 and a 52-week high of $68.84.

Office Properties Income Trust (NASDAQ:OPI) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.16. The firm had revenue of $174.80 million for the quarter, compared to the consensus estimate of $177.83 million. Office Properties Income Trust had a return on equity of 0.95% and a net margin of 1.13%. The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, equities research analysts forecast that Office Properties Income Trust will post 5.33 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in Office Properties Income Trust by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 74,598 shares of the company’s stock valued at $1,960,000 after acquiring an additional 420 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in Office Properties Income Trust in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc bought a new position in Office Properties Income Trust in the 1st quarter valued at approximately $29,000. Sound Income Strategies LLC purchased a new stake in Office Properties Income Trust during the 1st quarter valued at $35,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Office Properties Income Trust during the 1st quarter valued at $36,000. 66.56% of the stock is currently owned by institutional investors and hedge funds.

Office Properties Income Trust Company Profile

Office Properties Income Trust is a real estate investment trust, or REIT, which owns buildings primarily leased to single tenants and those with high credit quality characteristics like government entities. In December 2018, our predecessor company Government Properties Income Trust, or GOV, merged with Select Income REIT, or SIR, and the combined company was renamed Office Properties Income Trust, or OPI.

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